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90 Queen Street

Henderson acquires 90 Queen Street, London

​Henderson Global Investors' property business, on behalf of its German joint venture - Warburg Henderson, has exchanged unconditional contracts to purchase Great Portland Estates' interest in 90 Queen Street, London, EC2. It is being acquired for £61 million, which provides an initial yield after costs of 5.4%.

Henderson Global Investors' property business, on behalf of its German joint venture - Warburg Henderson, has exchanged unconditional contracts to purchase Great Portland Estates' interest in 90 Queen Street, London, EC2. It is being acquired for £61 million, which provides an initial yield after costs of 5.4%.

Martin Payne, Fund Manager at Henderson, who is responsible for the JV's investment in the UK markets commented: "We have acquired a strong asset with good income potential from a strong covenant paired with a prime City of London location. It offers optimum conditions for stability which will now allow us the opportunity to diversify the portfolio further with future acquisitions. We will now be widening our net in search of quality well-let assets elsewhere in the UK."

Henderson was advised by Montagu Evans and Osbourne Clarke. GPE was advised by GM Real, Strutt& Parker and BLP.

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